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Onventis buys Spendency to add analytics capabilities for its S2P suite plans

11/23/2021 By and

Two procurement technology vendors in Spend Matters’ SolutionMap rankings will become one — with German-based suite provider Onventis today announcing the acquisition of the spend analytics specialist Spendency, which is based in Sweden and has offices in Eastern Europe.

Terms of the deal were not disclosed, but it was backed by Main Capital, a software investor.

Onventis, founded in 2000, competes in the upstream sourcing area of SolutionMap as well as the downstream categories for procure-to-pay — but it is not in the analytics category. Its purchase of Spendency, founded in 2015 by the purchasing consultancy EFFSO, now covers the area of spend analytics, which is a component of a source-to-contract suite. Spendency competes only in the spend analytics area of SolutionMap, which ranks vendors in 10 total areas of procurement technology.

“The Spendency and Onventis leadership teams share a common vision of growth with the aim of becoming a leading European software group, while also transforming the field of purchasing and finance through a single digital spend management ecosystem,” Onventis said in a press release.

The combined companies have a customer base of 1,000 buying organizations, the release said.

Both companies are on our “50 Procurement Providers to Watch” list, and our analysts have examined both for Spend Matters PRO coverage. (See links below.)

In a Vendor Analysis of Onventis this year, we noted two key things about the vendor:

“First, it is one of the few providers in the space that is fully focused on the mid-market. Second, Onventis can support an organization’s indirect, services and direct sourcing needs, which not all platforms can.”

On Spendency, our analysts said:

“Spendency is attempting to fill a niche as one of only a few low-cost spend analytics solutions that is fast to stand up and comparatively inexpensive to deploy. The idea behind the toolset is to put spend analytics in the hand of every buyer and analyst that needs it with a low-cost entry point.”

More PRO coverage:

Look for more PRO analyst insights on this M&A deal in the days to come.